Aspen Dental

1421 West Airline Highway, LaPlace, LA 70068

$2,403,000

Cap Rate 6.70%

Views: 69 DOM: 85 Updated: 10.31.24 Posted: 08.27.24 Status: Active

Summary

Price $2,403,000	Built/Renov 2023	Tenant Aspen Dental
Cap Rate 6.70%	Lease Type NN+	Guarantor Corporate
Size/SF 3,500	Lease Start 07-01-2023	#Units 1,100
Price/SF $686.57	Expiration 06-30-2033	Tenant Type Medical/Health
NOI $161,000	R. Term 8.7	Ownership Fee Simple
Rent/SF $46.00	Increases 8.0%/5/yrs	Pop 5Mi 40,690
Lot/AC 0.82	Options 3/5yrs/8%	AHHI 5Mi $76,083

Phil Sambazis

Marcus & Millichap

Contact

Lease Highlights

New 2023 construction
Aspen Dental has 8+ years remaining on the current lease term with 3 (5-year) options to extend
The lease features 8% rental increases throughout the initial term and option periods
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guaranteed lease

Location Description

Aspen Dental is strategically located on Airline Highway, a major commercial artery with access to 36,228 vehicles passing by daily. This property benefits from its proximity, with the nearest Aspen Dental practice over 20 miles away. It offers easy access to I-10, one of the most traveled highways in the U.S., with over 100,000 VPD. The site is situated down the street from a high-volume...

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Key Features

New construction
Build to suit
Dense retail corridor
Strategically located
Freeway close
Top 100 MSA
Limited competition
Favorable NN+ lease
Corporate Guarantee
Over 1000 units backed

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Links

Aspen Dental Wikipedia Aspen Dental Wikipedia LaPlace, Louisiana Zip Code 70068 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Aspen Dental
Guarantor:Corporate
Company:Aspen Dental Management, Inc.
# Units:1,100
Stock:Private

About Tenant

Aspen Dental is the largest group of branded dental offices in the world. Aspen Dental is a full-service dental provider offering a wide range of services, including clear aligners, dentures,...

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Listing Broker

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